Cryptocurrency expert Tom Lee, aka the “Bitcoin Bull,” has reinforced his prediction for the world’s top cryptocurrency. Lee says the first indicator is the cost of producing and replicating Bitcoin.
Lee appeared on CNBC’s “Futures Now” on Tuesday when Bitcoin was trading at $8000.
He explains that the digital currency is actually “trading at cost” due to the price of production being around that amount.
Despite the fall in values, Lee told CNBC that the cost of producing Bitcoin on Wednesday was around $6,000. But Mr. Lee says its the flood of institutional investors that will be the big catalyst to boost the crypto space.
Speaking on CNBC’s “Futures Now,” the Bitcoin Bull predicts a coming rally #entrepreneur #invest #investment #bitcoin #cryptocurrency #money #motivation #invest #xrp #ripple #cnbc

A malicious miner successfully executed a double spend attack on the Bitcoin Gold network last week, making BTG at least the third altcoin to succumb to a network attack during that timespan.
Bitcoin Gold director of communications Edward Iskra first warned users about the attack on May 18, explaining that a malicious miner was using the exploit to steal funds from cryptocurrency exchanges.
To execute the attack, the miner acquired at least 51 percent of the network’s total hashpower, which provided them with temporary control of the blockchain. Obtaining this much hashpower is incredibly expensive — even on a smaller network like bitcoin gold — but it can be monetized by using it in tandem with a double spend attack.
After gaining control of the network, the attacker began depositing BTG at cryptocurrency exchanges while also attempting to send those same coins to a wallet under their control. Ordinarily, the blockchain would resolve this by including only the first transaction in the block, but the attacker was able to reverse transactions since they had majority control of the network.
Consequently, they were able to deposit funds on exchanges and quickly withdraw them again, after which they reversed the initial transaction so that they could send the coins they had originally deposited to another wallet.
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